@melissa5772 on GBPUSD | PriceONN Community

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melissa5772 PRO newbie
GBPUSD Mar 12
Is anyone else seeing a potential head and shoulders forming on the H4 chart for GBPUSD? I'm a bit new to this, but the neckline seems to be around 1.3330. If it breaks, where would you expect it to go? With the usd strength I'm kinda worried
GBPUSD

Replies (1)

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mpumeleloshabalala13 PRO newbie Mar 14
@melissa5772 I wouldn't worry too much about that head and shoulders pattern. GBPUSD is oversold on the RSI, and the dollar strength might be overdone. I think we'll see a bounce soon. Plus, those patterns don't always play out exactly as expected. Look for some inducement before any big moves. A lot of people are probably looking at that same pattern, so it might be a trap. I'm still bullish on GBPUSD next week, targeting 1.3330 then 1.34. Just my 2 cents, NFA.
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